US President Donald Trump speaks throughout a gathering with Bahraini Crown Prince Salman bin Hamad al-Khalifa within the Oval Workplace of the White Home in Washington, DC, on July 16, 2025.
Andrew Caballero-Reynolds | AFP | Getty Photographs
U.S. President Donald Trump is demanding a minimal of 15%-20% tariffs on imports from the European Union, the Monetary Occasions reported Friday, citing sources.
In response to three folks briefed on commerce talks between the U.S. and the bloc, Trump has escalated his calls for following weeks of negotiations over a doable framework deal, the paper stated.
With lower than two weeks to go till Trump’s Aug. 1 deadline, talks between the 2 powers seem to have stalled.
The EU had been hoping for a deal much like the U.Ok.’s, which maintained a ten% baseline tariff with some sector exemptions.
Trump has usually bemoaned the EU’s 198 billion euro ($231 billion) commerce surplus in items with the U.S.
For its half, European Union officers say that commerce is far more balanced when providers and investments are taken under consideration. They’ve additionally pledged to extend oil and fuel purchases to slim the commerce hole.
CNBC has contacted the European Fee, the manager physique of the EU, for touch upon the report, which despatched the Dow Jones Industrial Common to a session low, buying and selling greater than 250 factors decrease.
Learn the FT’s full story right here.
— CNBC’s Jenni Reid contributed to this report.
